Hydropower group applauds Sen. Wyden’s technology-neutral renewable incentive bill
U.S. Senator Ron Wyden (D-OR) recently introduced the Clean Energy for America Act, which would create an approach to tax incentives for renewable energy deployment that would not differ based on the technology.
Congress’s 2015 decision to provide extensions to tax incentives for wind and solar energy, while allowing hydropower incentives to expire, has put the hydropower industry at a competitive disadvantage, according to the National Hydropower Association (NHA).
“While hydropower stands ready to create tens of thousands of jobs and provide more clean energy, it’s expired tax incentive has placed the industry at a significant disadvantage,” NHA Executive Director Linda Church Ciocci said. “These critical tax incentives are vital to building on non-powered dams and conduits, upgrading existing facilities and bringing marine energy technologies to full-scale commercialization. Putting all renewables on a level-playing field will unlock hydropower’s clean energy potential and promote responsible new energy infrastructure development.”
The bill would also provide incentives for marine, hydrokinetic and new pumped storage projects, a utility-scale energy storage technology that can respond almost instantly to changes in energy needs.
“NHA thanks Senator Wyden for his vision and steadfast support for the hydropower industry,” Church Ciocci said. “His legislation will bring parity to the renewable energy sector and help to secure America’s clean energy future.”
